Inside Self-Storage

MAY 2019

Inside Self-Storage (ISS) is an information source for industry owners, managers, developers and investors covering news, trends, facility operation, finance, real estate, construction, development, marketing, technology, insurance and legality.

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TILT-A-WAY TILT-A-WAY TILT-A-WAY Beautiful, Secure Commercial and Residential Entryways Security Gates Heavy Duty Barrier Design Safety Features • Adjustable safety obstruction systems • Barrier locks in down position • UL325 listed • Battery back-up 2011 Harnish Blvd., Billings, Montana 59101 800-523-3888 or 406-656-4360 www.tiltaway.com • email info@idealmfginc.com Celebrating over 50 years in the business – Since 1957 www.tiltaway.com • email info@idealmfginc.com Dedicated Performance An additional risk here is the uncertainty. It's been anecdotally reported that after making the payment, you don't always get your data back. There are several variations of ransomware (FBI Moneypack, CoinVault, CryptoLocker and CryptoWall), but they all work the same way. Ransomware exploded into an epidemic in 2016. According to the FBI, there were about 4,000 attacks every day. For example, a large medical center was attacked, shutting down its systems for scans, lab work, pharmacy, radiation and oncology for more than a week. It ended after the center paid $17,000 to restore its systems. Years ago, law enforcement's advice was to not pay. However, in 2015, the FBI stated it often encourages people to pay. Best defenses: Don't get infected in the first place. Get training and awareness on how to spot a suspicious link or e-mail. Next, have fully backed-up data. If you're using a cloud-based service, check how far it backs up in time. It can also be good to save a local backup to a computer or external drive. You can then wipe your infected computer(s) and restore the data. The success of a restore, of course, depends on how recent and complete the backup is. Other Considerations There are continually evolving cyber laws that may affect your self-storage operation, such as state data-breach notification laws and the incoming California Privacy Protection Act. You may also want to consider cyber-liability insurance for your business. The cost of cybercrime to the global community is estimated at $500 billion every year. In preparing for cyberthreats, lead time is important to minimize costs, establish processes and avoid surprises. I hope these ideas will be helpful in protecting your business. Kelly Wilkins has been a certified information-privacy professional in the U.S. private sector for five years and has been guiding legal clients since 1991. She advises on how to manage risks from data, data breaches, and the rapidly changing cyber and privacy regulations. She's a partner at the law firm of Snell & Wilmer, operating out of Phoenix. For more information, e-mail kwilkins@swlaw.com; follow @KellyLWilkins on Twitter; visit www.swlaw.com. 40 ISS I May 2019 www.insideselfstorage.com

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